Report
Co-operative Bank plc
1 Balloon Street
Phone: +44 1612017805p:+44 1612017805 MANCHESTER, M60 4EP  United Kingdom Ticker: CPBB.GBCPBB.GB
This is a Subsidiary, click here for the Parent Company

CO-OP BANK’S SIXTH CHIEF IN 10 YEARS


THE Co-op Bank has appointed its sixth boss in less than a decade as it continues its long struggle back to profitability.

Nick Slape, the chief financial officer, will take over from Andrew Bester who announced his shock resignation this month. Slape joined in 2018 from Lloyds Bank where he was chief financial officer of the commercial division for five years.

Bank chairman Bob Dench said: ‘He is the natural choice to lead as we move towards achieving sustainable profitability.’ The bank’s hedge fund owners, who rescued it following near-collapse in 2013, hope Slape can finally turn around its performance.

Its problems trace back as far as 2009, and an ill-advised merger with Britannia.

In 2013 it discovered £1.5bn hole in the balance sheet, and then-boss Barry Tootell later admitted accounting misconduct.

Bester was only 18 months into the five-year turnaround plan he set out, but said he had achieved the key milestones and the bank needed fresh blood.

© Daily Mail

Related Businesses
- - Customer
Copyright © 2024 by CreditRiskMonitor.com (Ticker: CRMZ®). All rights reserved.  You are not permitted to use this report or the information contained herein for any purpose not expressly permitted by CreditRiskMonitor.com, Inc. Except as expressly permitted by CreditRiskMonitor.com, Inc., you are not permitted, in whole or in part, to copy, alter, correct, adapt, translate, enhance, lease, sell, sublicense, assign, distribute, publish, otherwise make available to any third party, or prepare derivative works or improvements of this report or any of the information contained therein. You are not permitted to reverse engineer, disassemble, decompile, decode, or adapt the software, algorithms or other processes used to prepare this report, or otherwise attempt to derive or gain access to the source code of same. You agree not to remove, alter, obscure, combine or otherwise change any disclaimers, trademarks, copyrights, other intellectual property rights, proprietary rights, or other symbols, notices, marks, or serial numbers on or relating to any copy of the report or on marketing or other materials that CreditRiskMonitor.com, Inc. may provide to you. You will not use this report in any manner or for any purpose that infringes, misappropriates, or otherwise violates any right of any party, or that violates any applicable law.  
The FRISK® scores, agency ratings, credit limit recommendations and other scores, analysis and commentary are opinions of CreditRiskMonitor.com, Inc. and/or its suppliers, not statements of fact, and should be one of several factors in making credit decisions.  Any reliance you place on the information in this report is strictly at your own risk. Except as expressly provided by CreditRiskMonitor.com, Inc., no warranties or representations of any type, including without limitation of results to be obtained, merchantability or fitness for a particular purpose, are made concerning any part of CreditRiskMonitor.com, Inc.’s service, including without limitation the FRISK® scores.  The information published above has been obtained from sources CreditRiskMonitor considers to be reliable.  CreditRiskMonitor.com, Inc. and its third-party suppliers do not guarantee or validate the accuracy and completeness of the information provided in this report, the underlying information input to create the FRISK® scores, and specifically do not assume responsibility for not reporting any information omitted or withheld.  By using this website, you accept the Terms of Use Agreement. 
Contact Us: 845.230.3000
Fundamental financial data concerning public companies may be provided by Refinitiv (click for restrictions)
Friday, April 26, 2024